Budget should give relief to the common man

budget of parliament The session is going to start from January 31 and the process of preparing the budget is also in the final stages. The common man is eagerly waiting for the Budget-2023. The common man is looking forward to a budget that will increase employment opportunities, reduce the prices of essential commodities, reduce the burden of taxes and improve their quality of life. The big question is whether the Modi government will be able to live up to the expectations of the common man?

The shadow of politics and elections on the budget cannot be ruled out. In such a situation, our country has a tradition of designing the budget according to political interests. Therefore, it is expected that with elections to 9 states this year, since this will be the last full budget of the central government before the 2024 Lok Sabha elections, a box of relief can be opened for the general public. Experts say that the budget is expected to focus on reviving the economy, which has been badly hit by the Corona pandemic. The government is under pressure to increase spending on health and education, as well as provide relief to small businesses and farmers.

The common man is also looking forward to measures that will make housing, healthcare and education more affordable. Besides this, the government is expected to address the issue of unemployment, which has risen sharply due to the pandemic. The common man is expecting such policies which will create more employment opportunities. It will also provide training and skill development programmes. The government also needs to focus on providing financial support to the unorganized sector such as small businesses, artisans and farmers who have been severely affected by the pandemic.
The government is also expected to address the issue of rising prices of essential commodities, which has hit the common man hard. The common man is looking forward to measures that will control inflation and make essential goods and services more affordable. The common man is also expecting the government to focus on rural development, as most of the population lives in rural areas. People living in rural areas have been badly affected by the pandemic and lack of access to basic amenities. The government needs to come up with schemes that improve the standard of living in rural areas and provide more livelihood opportunities.

As far as income tax is concerned, there is nothing wrong in saying that a very small part of the population is affected by it, but since this section affects the consumer market, it needs to be taken care of. And then due to the large number of employees in this class, it affects public opinion as well. That’s why it is expected that the Modi government will give relief to it through income tax exemption. Farmers are the second major pressure group in the country.

After the long agitation that went on two years ago, the government took many decisions in the interest of the farmers, in which the increase in the support prices was the main one. As far as the industry is concerned, the government cares for the interests of anyone, because it gives speed to the wheel of the economy. But apart from all these, there is a large number of that part of the public who is self-employed or does a simple job in the private sector. Even in the business class, there are mostly small and middle class, but since this class is not organized, it is unable to reach the ears of the government. From that point of view, everyone is hoping that a glimpse of the slogan given by the Prime Minister named Sabka Saath, Sabka Vikas and Sabka Vishwas will be seen in the upcoming budget.

Every year the budget comes, then the employed people keep an eye on whether they are getting any exemption in tax or not. For the past several years, there has been disappointment on this front. The complaint has increased in the middle class that the maximum burden is on them and they have to pay maximum tax. However, even now Finance Minister Nirmala Sitharaman is not promising tax exemption. She is just saying that she is understanding the problems of the middle class. The current tax structure in India, which has become the fifth largest economy in the world, hinges on the objective of earning more and more money for development. Building a highway by collecting tax first and then collecting its price by imposing toll tax is the proof of the same thinking. In a public welfare state, there is a practice of taking tax from the affluent class and spending it on the upliftment of the deprived class. But in the tax system of our country, even a poor person has to indirectly pay those taxes which are expected from the affluent class. Another important point is that the business community is deprived of the social security in the name of which governments spend billions of trillions. If any kind of untoward happens to the businessman who fills the government’s coffers with various taxes throughout his life, a mountain of trouble breaks down on his family members. During Corona, a large number of young businessmen became victims of death due to which the future of their dependents became bleak. In case of sudden death of a businessman, it is unfair for his family members not to get any kind of social security. It is expected that such a scheme will be included in the budget for this class, so that after any untoward incident, its family members are not dependent in any way.

According to experts, the Indian economy has started recovering from the fiscal consequences of the outbreak of the Corona epidemic. In such a situation, a solid growth in the manufacturing sector is expected from this budget. This can be further strengthened through fiscal incentives and special schemes in the Union Budget. In this budget, the central government will give priority to those policies which can benefit the infrastructure, manufacturing sector and promote renewable energy. So that the country can realize its potential at the global level. Manufacturing investment should be encouraged among technology providers to bring self-reliant solutions in the country.

Since the economy was shaken during the Corona period, due to which the government stopped many concessions. Although the facility of free food grains and free treatment to the poor continues, but the concessions given to different classes in rail travel have stopped. This facility is justified especially for senior citizens. Similarly, it is necessary to pay attention in this budget to reduce the profit margins of petroleum companies in the prices of petrol and diesel. At the same time, the government should implement the principle of increasing income while reducing the mountain of taxes. At present the rates of taxes may be a deal of profit for the government but it would not be wrong to call them a burden on the public. The government must balance the need for economic growth with the need to address the concerns of everyday citizens.
The writer is an accredited freelance journalist.
Rajesh Maheshwari